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- The latest blow to the digital asset ecosystem was the significant fraud suffered by Fixed Float, a coin mixer, and a decentralized crypto exchange.
- A large portion of Ethereum
funds was transferred to a cryptocurrency exchange by the hacker, according to a post by Peck Shield Alert. - Details of the crypto exchange hack first surfaced on X, with many users confirming the news by reporting frozen transactions and missing funds.
A new movement was observed in the address of the hacker who hacked Fixed Float and seized $ 26 million worth of BTC and ETH assets.
Fixed Float Hacker Moves Assets
The recent blow to the digital asset ecosystem was the significant fraud suffered by Fixed Float, a coin mixer, and a decentralized crypto exchange. The crypto hack resulted in the theft of approximately $26 million worth of Bitcoin (BTC) and Ethereum (ETH) from the platform. Moreover, the crypto hacker managed to rapidly transfer a significant portion of the stolen Ethereum to another exchange.
In the Fixed Float crypto fraud incident, 409 Bitcoins worth $21.17 million and a total of 1,728 Ethereum worth $4.85 million, with a total value lost from the platform of $26 million, were stolen. Subsequently, a significant portion of the stolen Ethereum funds was transferred to a cryptocurrency exchange by the hacker, as reported by Peck Shield Alert. However, there is no update regarding the Bitcoin funds that suffered losses.
Details of the crypto exchange hack first surfaced on X, with many users confirming the news by reporting frozen transactions and missing funds. Later on, Fixed Float confirmed the misuse of Bitcoin and Ethereum in the recent crypto hack. Initially downplaying the situation as “minor technical issues,” the platform quickly switched to maintenance mode as the incident unfolded.
A few hours later, Fixed Float released a statement acknowledging the severity of the situation, stating that it was a hack incident related to “the theft of funds.” Currently, updates cannot be accessed as the Fixed Float website has halted operations and displays a technical maintenance message.
Updates Regarding the Fixed Float Investigation
Regarding the ongoing investigations, Fixed Float refrained from providing detailed explanations. The exchange stated, “We are not ready to make a public statement on this yet; we are working to eliminate all possible vulnerabilities, improve security, and conduct an investigation.”
The exchange assured users that “our service will be usable again soon. We will provide details about the situation shortly.” However, users, having fallen victim to such a hack, are criticizing the platform and labeling it as a “fraud” site. Additionally, a user shared a screenshot of a conversation where the Fixed Float team allegedly requested their private keys.
The user claimed that this move could have been initiated by the hacker. However, the exchange attempted to justify this action by stating that they needed the private key details to verify Monero (XMR) transactions on the platform. Nevertheless, users continued to approach the intentions of the platform with skepticism following the $26 million crypto hack incident.